Arthur Hayes, BitMEX co-founder, is accumulating meme coins ahead of the bullish ‘Uptober’ month.
Arthur Hayes, who is also the co-founder of the BitMEX cryptocurrency exchange, has been amassing meme coins over the past week. Ahead of the next ‘Uptober,’ the cryptocurrency founder disclosed that he is attempting to build a portfolio consisting of meme tokens.
At the same time, Arthur Hayes requested that his followers suggest coins that he should purchase. To this point, Hayes has primarily purchased Solana coins, but the Ethereum-based Pepe (PEPE) cryptocurrency is his most significant meme holding.
In a post on X, the co-founder of BitMEX said that he was in the process of developing a portfolio of meme tokens. The co-founder of BitMEX took this action due to the impending arrival of October, a traditionally positive month for Bitcoin and the cryptocurrency market.
Trading these coins was something that Arthur Hayes suggested doing in the past because Bitcoin was performing well overall. As a result, Hayes believes that the most popular meme coins are expected to continue their upward trend, given that the market is now expected to be positive in October.
While he was doing so, he disclosed memes that he had already purchased and asked his fans to promote him with some of their most popular memes.He already owns the meme tokens MOTHER and MOG, issued by Solana, and Ethereum’s PEPE, the third-largest meme in terms of market cap.
The information provided by SpotOnChain indicates that he presently possesses 24 billion PEPE tokens. He appears to store the remaining coins in an unreleased wallet. Other than that, Hayes revealed in another post on X that he had also purchased Smoking Chicken Fish (SCF), which is another Solana currency.
During this time, he indicated that he had also purchased Ponke (PONKE). In addition to PEPE, it is thought that the MOTHER coin is one of the greatest meme assets associated with the cryptocurrency inventor. Iggy Azalea, an Australian rapper, is the creator of the coin, and he has previously said that he is increasing his stake in the initiative.
He added that the market cap of the coin is going to reach one billion dollars. Alternative cryptocurrencies are once again receiving a lot of attention, particularly when one considers the attention that they are receiving from cryptocurrency investors such as Arthur Hayes.
These coins have also seen large rallies, and investors have made gains that could entirely change their lives. According to a recent article, Moo Deng, a recently released cryptocurrency on the Solana chain, made an investor $12.45 million.
The investor had spent $1,300 on the cryptocurrency. Additionally, the most prominent meme coins have experienced significant rises over the past week. In just one week, Elon Musk’s endorsement has contributed to a 16% increase in the value of Dogecoin.
Both Shiba Inu and PEPE, who are the second and third largest players in terms of market cap, have experienced greater gains throughout this time period, with the former increasing by 35% and the latter by 32%.
